UPS “WILL NOT RUSH” INTO EUROPEAN ACQUISITIONS

UPS “WILL NOT RUSH” INTO EUROPEAN ACQUISITIONS

UPS “WILL NOT RUSH” INTO EUROPEAN ACQUISITIONS

   United Parcel Service will not rush into acquisitions in Europe following completion of its initial public offering, according to wire service reports.

   The UPS initial public offer last autumn raised $5.5 billion and was designed to raise cash for acquisitions.

   But the company “will not rush to buy” in Europe, a senior UPS executive told Reuters.

   In December, UPS Logistics Group, a subsidiary of the company, announced an agreement to acquire Finon Sofecome, a French logistics company.

   But the speed of UPS’s expansion in Europe is seen as much slower than that of Deutsche Post, the fast-expanding German parcels, logistics and postal service group.